A Day in the Life…

研报英文原文证据摘录

A Day in the Life…

Customer Thoughts on AI Opportunities — In listening to the company’s strategy, there is a clear

bifurcation of how it views the AI opportunity across different parts of the organization. In revenue-

and customer-facing use cases, there is worry about “fixing what isn’t broken.” In the business, which

is ~80% HVAC revenue, a week of revenue during peak summer season can make or break a year. The

organization has developed workflows, mostly, but not solely, on ServiceTitan, to allocate technicians

to higher-revenue opportunities. In this part of the business, the company is still evaluating AI solutions

to drive revenue, with one example being a third-party voice solution to field customer calls, although

most customers still speak with customer service reps. In the back office, there was more enthusiasm

for trialing new solutions to bolster efficiency, although even here it appears the company is happy to

be a “fast follower” and is evaluating tools from many providers. We note nearly all the discussion was

on vended solutions – the company did not indicate any plans to build complex AI-driven workflows

internally, although it would consider building more basic tools like reporting solutions. This supports the

view that AI appears to be a competitive risk to ServiceTitan from other potential vendors, rather than

from customers themselves.

Takeaways From IR Meetings — ServiceTitan's new Max program, the end-to-end orchestration layer

across trade workflows, was the focal point of investor meetings. Max integrates the core platform, Pro

products, and AI/agentic tools, enabling workflow automation to drive higher close rates, ticket sizes,

improve per-tech efficiency, etc., with the ultimate goal of scaling customers' businesses; management